Shri Ashutosh Jha (HUF) Vs. ITO (ITAT Kolkata) The claim of the assessee has been that the assessee had purchased the property at a lower rate as per the value mentioned in the agreement to purchase dated 19-07-2012. However, the Ld. AO has adopted the stamp duty value as on date of sale i.e. 28-05-2013. […]
FDI equity inflow grows by 168% in the first three months of F.Y. 2021-22 (US$ 17.57 billion) compared to the same corresponding period last year (US$ 6.56 billion). Total FDI inflow of US$ 22.53 billion during first three months of 2021-22, i.e. April, 2021 to June, 2021 is much Higher as compared to US$ 11.84 billion in first three months of 2020-21
Life Insurance Corporation of India Vs. ITO (TDS) (Orissa High Court) The short question that arises is whether LIC had a statutory obligation to deduct tax at source while paying the conveyance/additional allowance to its development officers? In support of the contention that conveyance/additional allowance are not income and therefore not liable for deduction of […]
The Income Tax Department carried out a search and seizure operation on 24.08.2021 on a group based in Rajkot. The group is among Gujarat’s prominent real estate builders & developers and is actively engaged in real estate, construction and land trading businesses in and around Rajkot. More than 40 premises were covered in the operation.
HCL Comnet Ltd. Vs DCIT (ITAT Delhi) It is settled principle of law that generic dissatisfaction as to the correctness of the claim of the assessee without assigning any reason is not a valid satisfaction which is mandatory under section 14A(2) of the Act, as has been held by Hon’ble Supreme Court in case of […]
Tvl. Innovative Motors Vs The Goods and Service Tax Council (Madras High Court) This Writ Petition has been filed by the petitioner to direct the respondents to reopen the GST Portal and to allow access to the portal to enable us to file Form GST TRAN – 1. Petitioner submit that denial of legitimate claim […]
Explore the denial of bail for Amit Kumar in a GST evasion case. Gauhati High Court cites the magnitude of economic offenses and potential tampering of evidence.
In re V. L. Traders (GST AAR Gujarat) i. the applicant has suppressed the material facts that DGGI had initiated inquiry with respect to the same Questions raised in the subject Application and that the proceedings initiated by DGGI vide relevant sections of CGST Act was initiated prior to filing of subject Advance Ruling application. […]
In re Supercoat India (Trade Name) Ayush Baid (Legal Name) (GST AAR Gujarat) i. The applicant supplies partially coated Polyester fabric ( knitted/woven) or partially coated fabric. ii. Said fabric is scattered with micro-dot printing. iii. The subject goods are used as interlining fabric. iv. The resultant fabric is partially coated on one side with […]
In re Tej Jain (GST AAR Rajasthan) Amount paid to the owner of the car and amount incurred for the refurbishment of the said car are not includible in the purchase price so as to deduct the same from the selling price of the old and used refurbished car to arrive as the margin for […]
